JavaScript is off. Please enable to view full site.

At Singapore summit, experts hail innovation as key to countering global uncertainty, disruption

Thursday, December 05, 2019, 13:56 GMT+7
At Singapore summit, experts hail innovation as key to countering global uncertainty, disruption
Celine Le Cotonnec, chief data officer of AXA Asia, speaks at the 3rd International Innovation Summit in Singapore on December 4, 2019. Photo: Minh Huynh / Tuoi Tre

The International Innovation Summit 2019 for Asian governments and corporates was held in Singapore on Wednesday morning by Enterprise Asia with support from the Singaporean government.

Themed 'Innovation Trailblazers: Creating for Disruption,' the three-day summit is expected to promote discourse on the role of innovation in combating global uncertainty and disruption.

A key focus of the summit is the emphasis on Asian governments prioritizing innovation within their borders and homegrown technology to counter global disruption by shifting technologies and market forces.

Following two successful editions in Shanghai and Macau, this year’s keynote speakers include Koert Breebaart, vice-president of SAP Asia, Ken Ding, head of product innovation of Samsung Electronics, Yat Siu, founder and CEO of Outblaze and Animoca Brands, Ajay Mohan of Intel Corporation, and Jing Jang of Haier Group Corporation.

According to Dr. Fong Chan Onn, chairman of the organizing board and former Malaysian minister of human resources, Asia’s economies need to reduce its reliance on foreign technologies and develop their own in order to insulate themselves from global events such as the ongoing U.S.-China trade spat.

“Leading disruptive innovation requires new mindsets and behaviors, for leaders themselves and for the organizations that develop them,” he said.

“In today’s turbulent environment, leading disruptive innovation is as much about best principles as it is about best practices, and it requires a disruptive approach to management itself.”

Dr. Fong Chan Onn, organizing chairman and former Malaysian minister of human resources, speaks at the 3rd International Innovation Summit in Singapore on December 4, 2019. Photo: Minh Huynh / Tuoi Tre

Dr. Fong Chan Onn, organizing chairman and former Malaysian minister of human resources, speaks at the 3rd International Innovation Summit in Singapore on December 4, 2019. Photo: Minh Huynh / Tuoi Tre

According to Dr. Fong, companies wedded to old business models are losing ground and some are being pushed out of business while new challengers that are willing to embrace innovation are gaining advantages and taking more dominant positions in the market.

“The goal of this year’s International Innovation Summit is not only to discuss what to expect from the future of disruption in innovation but also to define the innovation culture that we must adopt for our organizations to compete in this revolution," Fong underlined.

“More importantly, governments must urgently work with the private sector to define an innovation agenda for their respective economies and work with other countries for a regional framework to advance the culture of innovation in each country.”

According to Dato’ William Ng, president of Enterprise Asia, innovation is moving faster now than at any other point in history.

“Organizations cannot afford to rely on current practices in the hope that they will work in the future,” he said.

“Organizations that fail to innovate are setting themselves up for failure.”

Ng added that he is planning to work with more Vietnamese enterprises on potential sectors he said the world should be aware of.

Celine Le Cotonnec, chief data officer of AXA Asia, speaks at the 3rd International Innovation Summit in Singapore on December 4, 2019. Photo: Minh Huynh / Tuoi Tre

Celine Le Cotonnec, chief data officer of AXA Asia, speaks at the 3rd International Innovation Summit in Singapore on December 4, 2019. Photo: Minh Huynh / Tuoi Tre

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

Minh Huynh / Tuoi Tre News Contributor

More

Read more

;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news